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The corporate training market size is forecast to increase by USD 60.40 billion, at a CAGR of 9.54% between 2023 and 2028. The report includes historic market data from 2018 - 2022. The growth of the e-learning training market is driven by several key factors, including the emergence of affordable e-learning training modules, heightened demand for a skilled workforce, and the surging preference for mobile-centric training solutions. The advent of cost-effective e-learning modules has revolutionized traditional training methods, offering scalability, accessibility, and flexibility to learners across various industries. Simultaneously, the growing requirement for skilled employees drives the adoption of advanced training techniques to bridge competency gaps and enhance workforce capabilities. Moreover, the rising popularity of mobile-based training reflects changing learning preferences and the need for on-the-go access to educational resources. These interconnected trends underscore a paradigm shift in training and development strategies, catering to the evolving needs of businesses and learners alike. By leveraging innovative technologies and pedagogical approaches, organizations can capitalize on these trends to drive market expansion and foster continuous learning in the digital age. The market analysis and report also includes an in-depth market growth analysis, market trends and analysis, and market forecasting of forecast and historic data.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adobe Inc: The company offers courses such as Adobe Analytics, Adobe Advertising Cloud, Adobe Audience Manager, and Adobe Commerce.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market research and growth and players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
North America is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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One of the main factors that is significantly contributing to the growth of the global market in North America is the rising focus of corporations on keeping employees engaged and actively involved in work to obtain fruitful results. Additionally, the presence of prominent MNCs and large organizations also positively impacts the market in the region. Some of the prominent market players in the region include Microsoft, AT and T, IBM, international banks, insurance companies, and others, which have their operations heading from the US. As these organizations have employed candidates from diverse educational backgrounds, it has led to the increasing demand for keeping employees technically on the same page to align their personal goals with their business goals. As a result, it is fuelling the demand for these across these organizations in the region.
The technical training segment is estimated to witness significant growth during the forecast period. Factors such as the rising need for skilled employees on continuously evolving technologies are significantly contributing to the growth of this segment. Technical training, workshops and continuous learning management systems (LMS) can be referred to as a process of coaching, mentoring, and teaching employees to perform technical tasks on the job more accurately and thoroughly.
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The technical training segment was the largest segment and was valued at USD 53.12 billion in 2018. Training in the essential and basic knowledge of applications, technology, service tactics, and sales are fuelling the growth of this segment. Furthermore, there is an increasing need to stay updated on the latest technologies as technical skills directly impact the productivity of the employee. Furthermore, such technical corporate learning training helps employees to carry out tasks efficiently. There is an increasing demand for this technical training across several IT companies as well as manufacturing as both businesses are process-based, Each step in completing a task is crucial such that can make a big difference in the overall productivity of businesses. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the corporate market development.
In today's knowledge based economy, digital skills are paramount. Industries, like the FMCG industry, adapt through virtual training method and face to face interactions, fostering a continuous e learning culture. Personalized e-learning modules cater to individual needs, ensuring skill development aligns with industry demands. This adaptation underscores the importance of staying relevant in a rapidly evolving landscape. Our researchers analyzed the data with 2023 as the base year, along with the market trends and analysis, drivers, and challenges. A holistic corporate training market growth analysis and report of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Emergence of cost-effective e-learning training modules is the key factor driving the market. In today's knowledge-based economy, corporate training plays a pivotal role in talent development, upskilling, and reskilling of employees to meet business goals. With the shift towards remote work and flexible schedules, workplace learning has become essential for performance and retention. Upskilling and reskilling are crucial for an adaptable workforce to remain competitive in a rapidly changing business landscape. Training methods have evolved, with virtual training methods gaining popularity due to their cost-effectiveness and accessibility. Soft skills training, diversity initiatives, and continuous learning are integral components of a comprehensive corporate training program.
Further, digital transformation and technological adoption have led to the use of digital tools, automation, and artificial intelligence in learning activities. Training providers offer specialized programs to meet organizational requirements while addressing budget constraints, economic uncertainty, and time constraints. Businesses prioritize development and knowledge acquisition to ensure a skilled and competent workforce, enabling sustainable growth. The corporate training market encompasses a wide range of learning activities, from digital literacy to advanced technical skills, to meet the evolving needs of employees and the organization.
A key factor shaping the market change is the emergence of IoT and wearable devices. There is a growing popularity for the Internet of Things (IoT) and wearable devices in the training industry due to the rapid adoption of digital solutions to implement e-learning. The emergence of wearable devices or apps has offered the most convenient and time-saving solutions, ranging from logging the attendance of trainees to monitoring their performances in an Internet-enabled room.
Additionally, the market refers to the industry that provides professional development and skill enhancement programs to employees of companies and organizations. Online learning platforms have gained significant popularity in the market, offering flexibility and convenience to learners. Soft skills training, such as communication and leadership development, is a major focus of corporate training programs. The demand for corporate training is driven by factors like technological advancements, evolving job roles, and the need for continuous learning in a competitive business environment.
Increasing competition from in-house training is one of the key challenges hindering the market. There is a significant challenge for several market players in the global market due to the severe competition from the unorganized sector and their favorable market conditions in the developed regions. In addition, several companies are providing in-house training to employees across many industries such as construction, automotive, and BFSI sectors.
Moreover, several of these companies have their own private training departments, adequate marketing, and technical and managerial resources to tailor to the training demands and minimize their dependency on external market players. Hence the growing competition for in-house training can negatively impact the market. Hence, such factors can hinder the market evolution during the forecast period.
The market development analysis report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
In today's knowledge-based economy, corporate success hinges on the competencies of employees, driving the demand for innovative training methods. While face-to-face training remains valuable, the rise of virtual training methods caters to the needs of a digital skills-focused workforce, overcoming challenges like financial constraints and work schedules. Specialized training programs address industry-specific competencies, enhancing competitiveness and efficiency. Technology implementations such as chatbots and virtual assistants personalize learning experiences, fostering employee engagement and satisfaction.
Additionally, data analytics enable continuous measurement and feedback, ensuring quality training and improving employee skills. In sectors like FMCG, pharmaceutical and healthcare, and financial services, rapid innovation necessitates continuous learning cultures, enhancing operational efficiency and customer experiences. Embracing e-learning and mobile devices, companies cultivate lifelong learning environments, bolstering employee morale and reducing turnover rates across diverse industries, from professional services to public enterprises and information technology firms.
Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.54% |
Market Growth 2024-2028 |
USD 60.40 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.49 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 49% |
Key countries |
US, UK, Germany, Canada, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adobe Inc., Articulate Global Inc., Blanchard Training and Development Inc., BTS Group AB, Cegos Group, Cisco Systems Inc., City and Guilds Group, D2L Inc, DEMOS, Development Dimensions International Inc., Educomp Solutions Ltd., Franklin Covey Co., John Wiley and Sons Inc., Korn Ferry, Learning Technologies Group Plc, Mind Gym Plc, NIIT Ltd., Richardson Sales Performance, Simplilearn, and Skillsoft Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, condition analysis for the market projection period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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